Tabula Rasa HealthCare, Inc.® (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, announced today that it completed the previously announced sale of its PrescribeWellness business to Transaction Data Systems, Inc. for an all-cash purchase price of up to $140 million. $125 million of the purchase price was paid at the closing of the acquisition, excluding certain adjustments related to the net working capital of the PrescribeWellness business, and up to an additional $15 million will be paid if certain performance-based metrics are met during the fiscal years ending December 31, 2023, and 2024.
Calvin H. Knowlton, PhD, TRHC’s Chief Executive Officer, Chairman and Founder, said, “The successful sale of PrescribeWellness represents another step forward in our ongoing strategic transformation. Through our planned asset divestitures, we are creating a more focused business that is better positioned to capture the significant opportunities ahead in the PACE and broader value-based care market, unlocking long-term value for all TRHC stockholders.”
PrescribeWellness is a provider of best-in-class patient relationship management solutions. TDS plans to add PrescribeWellness to its industry-leading portfolio of clinical applications to support enhanced collaboration among pharmacists, providers, payers, and patients.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events – the fourth leading cause of death in the US. TRHC’s proprietary technology solutions, including MedWise®, improve patient outcomes, reduce hospitalizations, and lower healthcare costs. TRHC’s extensive clinical tele-pharmacy network improves care for patients nationwide. Its solutions are trusted by health plans and pharmacies to help drive value-based care. For more information, visit TRHC.com.
About Transaction Data Systems
For over 40 years, TDS has been dedicated to the success of the pharmacy market and pharmacy supply chain. With its portfolio of products and services including Rx30, Computer-Rx, KloudScript, Pharm Assess, and Enhanced Medication Services, TDS provides innovative technology solutions and pharmacy management systems to the pharmacy industry. We proudly support one of the largest install bases of pharmacies in the industry with systems in all 50 states and the Virgin Islands. TDS is the leading provider of pharmacy-focused, patient-centric solutions. For more information, please visit transactiondatasystems.com.
